John J. Ray III, Performing CEO of cryptocurrency change FTX, has strongly disputed earlier CEO Sam Bankman-Fried’s claims that his clients suffered no hurt and no funds had been misplaced when the change crashed in November 2022.
Within the letter addressed to U.S. District Choose Lewis Kaplan, Ray known as Bankman-Fried’s allegations “completely disrespectful and patently false.”
Bankman-Fried had beforehand argued that US prosecutors’ makes an attempt to imprison him for as much as 50 years had been a distortion of the reality and painted him as an “immoral supervillain”. Ray’s response textual content primarily focused the allegations made by Bankman-Fried’s authorized group in a sentencing utility by which they sought a decreased sentence for SBF.
“Bankman-Fried continues to reside a lifetime of phantasm. The ‘job’ he left on November 11, 2022 was neither solvable nor protected,” Ray added:
“Giant sums of cash had been stolen by Bankman-Fried and he was rightfully convicted by a jury of his friends.”
Hearings concerning Bankman-Fried’s sentence proceed. Prosecutors consider Bankman-Fried ought to spend between 40 and 50 years behind bars; That is considerably lower than the 100 years beneficial by U.S. sentencing tips, however far more than the 6.5 years his attorneys advocate.
By the point Ray took over as CEO, FTX’s coffers had been largely empty, leaving solely 105 Bitcoins left on the change “for buyer rights of roughly 100,000 Bitcoins,” in keeping with Ray’s letter.